35 Burst results for "Elizabeth Holmes"
AP News Radio
Elizabeth Holmes gets more than 11 years for Theranos scam
"Disgraced CEO Elizabeth Holmes has been sentenced to prison for the theranos scam I Norman hall federal judge Edward Davos senator Elizabeth Holmes to more than 11 years in prison for duping investors in the failed startup that promised to revolutionize blood testing The Senate was shorter than the 15 year penalty requested by federal prosecutors but far tougher than the leniency herd legal team sought for the mother of a one year old son with another child on the way She was convicted in January homes who sobbed in court while expressing remorse must report to prison on April 27th I Norman hall
AP News Radio
Elizabeth Holmes faces judgment day for her Theranos crimes
"The disgraced CEO of theranos Elizabeth Holmes is scheduled to be sentenced today for peddling a bogus blood testing technology Holmes was convicted in federal court in January of four counts of investor fraud and conspiracy her sentencing today will be in the same courtroom in San Jose California prosecutors say the 38 year old should serve 15 years in federal prison and pay $804 million in restitution for duping investors and endangering patients homeless technology was supposed to be able to scan for hundreds of diseases and other ailments with just a few drops of blood but the test produced wildly unreliable results Theranos collapsed in 2018 Her lawyer is expected to ask for a sentence of no more than 18 months preferably served in home confinement Holmes now has a one year old child and is pregnant with her second I'm Donna water
AP News Radio
Prosecution witness stands by testimony in Holmes trial
"A prosecution witnesses standing by damaging testimony the fraud conviction of theranos founder Elizabeth Holmes I Norman hall Prosecution witness and former theranos lab director Adam rosendorff has reiterated his earlier testimony during Elizabeth Holmes fraud trial Holmes is facing up to 20 years in prison for misleading investors about blood testing methods Rosenthal sought to speak with Holmes during an uninvited visit to her home in August following her conviction Rosenthal the federal judges testimony of the trial was truthful but he said he felt remorseful about the possibility that
AP News Radio
Former Theranos exec Ramesh Balwani convicted of fraud
"There's been a second conviction in the theranos case A jury has convicted former theranos executive Sonny balwani of collaborating with disgraced CEO Elizabeth Holmes in a massive fraud involving the blood testing company The 12 jurors found balwani guilty of all 12 felony counts of defrauding both investors and the patients who trusted unreliable blood tests that could have jeopardized their health Holmes was convicted on four counts of investor fraud and conspiracy earlier this year the two each face up to 20 years in prison Holmes is scheduled to be sentenced in late September the date on balwani sentencing is expected to be set in the coming days I'm Shelley Adler
AP News Radio
Elizabeth Holmes' ex-lover, business partner faces own trial
"The ex boyfriend of former Theranos CEO Elizabeth Holmes goes on trial Wednesday sunny bell while he faces charges that he was homes accomplice in the Silicon Valley scam involving a blood testing technology that flopped the fifty seven year old denies the charges home to thirty eight was found guilty of investor fraud and conspiracy in January she's free on half a million dollars bail while awaiting sentencing that is stirred speculation that she might agree to testify against bel Wanty if prosecutors agreed to recommend leniency for homes in exchange for her cooperation I'm Julie Walker
Slate's If Then
"elizabeth holmes" Discussed on Slate's If Then
"She the legal experts I've talked to estimate, it could be anywhere from three to ten years. They do believe she'll serve prison time. At the same time, she's going to appeal this very likely. And so it could be years before she actually goes to prison. She is not in the custody of the government right now. She is living her life, but she's waiting. And then there's the upcoming trial of Sonny balwani. There are noses former COO and Holmes former boyfriend. His trial for fraud and conspiracy will start next month. That's a big question mark because for good behavior for being a witness a snitch, something as far as sunny is concerned, there's points for that in the legal system where Elizabeth could serve less time if she helps on that case. Every time I have talked to you and I have listened to your work, you make it pretty clear that it is a mistake to underestimate Elizabeth Holmes. Even now, and I just wonder, even with this guilty verdict, even if she sentenced, is this the last thing we hear from her? Is she going to be back in 20 years? She's silent for now, but I don't think she'll be silent forever. And I do think we'll hear more from Elizabeth Holmes at some point in the future. Rebecca Jarvis, thank you very much. Lizzie, thank you so much. I appreciate this so much. Rebecca Jarvis is the host of the dropout podcast and ABC News chief business technology and economics correspondent. And you can listen to the dropout, Elizabeth Holmes on trial, wherever you get your podcasts. All right, that is our show for today. This episode of what next TBD was produced by Benjamin frisch. We're edited by Tory Bosch and Alison Benedict, elisha Montgomery is the executive producer for slate podcasts. TBD is part of the larger what next family, and it's also part of future tents, a partnership with slate, Arizona state university, and new America. And I want to take a moment and recommend you go back and listen to Thursday's episode of what next. It's about why we still don't have enough rapid COVID tests in the U.S. and how things got this way. I'm Lizzie O'Leary. Thanks for listening..
The Secret History of the Future
"elizabeth holmes" Discussed on The Secret History of the Future
"Part of what makes Elizabeth Holmes story and her trial so compelling is that she was more than just an entrepreneur. She was a symbol of a woman and a boys club of a certain kind of dream big swagger that celebrated in Silicon Valley. And eventually, a hubris excess and capitalism without any guardrails. From her cultivated Steve Jobs style black turtlenecks to her distinctive baritone. She was hard to ignore. I want to hear a little bit about what the trial was like. You were there a lot. There were people dressed up like Elizabeth Holmes. It sounds like a circus. Yeah, it really was, in many ways, the circus, and it drew, I think it drew a lot of attention from a lot of different places. I mean, I spoke to people who were there a musician who was living in the area who just wanted to come check it out. You had the artist, the woman who showed up and was selling the whole Elizabeth Holmes look for a $100 and then you had you had people like doctor Anne cop sill who is a retired BioTech executive who at one point in time crossed paths with Elizabeth Holmes and was interested in this story because of the industry and what that says and what it means for the industry. So I just think this story I know for you and from what you've said and for me as well, it's always been very captivating because it's a parable about our time about who we are as people about what we all sort of collectively buy into and group think about the ecosystem about media and Silicon Valley and money and who gets funded and why they get funded. And this story just hits on all of those different themes. She spoke in her own defense. What did her voice sound like? I mean, it's the question, right? So I would say, in my own analysis, she sounded very much the way that we've heard her on stages with the low deep voice but I do think there was a lighter almost airier quality to how she spoke. I'm asking this question because, you know, she had this sort of like part of her personal myth making was this baritone voice. Yeah. And look, I don't think my own voice, I'm losing it right now from a lack of sleep and I apologize for that. But my impression being in the courtroom and, of course, the charges were brought three plus years ago. So they had a lot of time. She had a lot of time to talk to her attorneys and anybody in that situation would about what the presentation was going to look like in the courtroom. And I would say the overall essence of what she provided in the courtroom was the deep baritone voice was there, but there was a lightness to it, that if you're trying to declare your innocence that perhaps would benefit one to speak in that way..
Slate's If Then
"elizabeth holmes" Discussed on Slate's If Then
"Part of what makes Elizabeth Holmes story and her trial so compelling is that she was more than just an entrepreneur. She was a symbol of a woman and a boys club of a certain kind of dream big swagger that celebrated in Silicon Valley. And eventually, a hubris excess and capitalism without any guardrails. From her cultivated Steve Jobs style black turtlenecks to her distinctive baritone. She was hard to ignore. I want to hear a little bit about what the trial was like. You were there a lot. There were people dressed up like Elizabeth Holmes. It sounds like a circus. Yeah, it really was in many ways a circus, and it drew, I think it drew a lot of attention from a lot of different places. I mean, I spoke to people who were there a musician who was living in the area who just wanted to come check it out. You had the artist, the woman who showed up and was selling the whole Elizabeth homes look for a $100 and then you had you had people like doctor Anne cop sill who is a retired BioTech executive who at one point in time crossed paths with Elizabeth Holmes and was interested in the story because of the industry and what that says and what it means for the industry. So I just think this story I know for you and from what you've said and for me as well, it's always been very captivating because it's a parable about our time about who we are as people about what we all sort of collectively buy into in group think about the ecosystem about media and Silicon Valley and money and who gets funded and why they get funded. And this story just hits on all of those different themes. She spoke in her own defense. What did her voice sound like? I mean, it's the question, right? So I would say, in my own analysis, she sounded very much the way that we've heard her on stages with the low deep voice but I do think there was a lighter almost airier quality to how she spoke. I'm asking this question because, you know, she had this sort of like part of her personal myth making was this baritone voice. Yeah. And look, I don't think my own voice I'm losing it right now from a lack of sleep and I apologize for that, but my impression being in the courtroom and of course the charges were brought three plus years ago. So they had a lot of time. She had a lot of time to talk to her attorneys and anybody in that situation would about what the presentation was going to look like in the courtroom. And I would say the overall essence of what she provided in the courtroom was the deep baritone voice was there, but there was a lightness to it, that if you're trying to declare your innocence that perhaps would benefit one to speak in that way..
Slate's If Then
"elizabeth holmes" Discussed on Slate's If Then
"Honestly, Rebecca, how tired are you right now? I've slept about two hours over the last two to three days. So I'm pretty tired, Lizzie. Thank you for thank you for inquiring. Well, I Rebecca is Rebecca Jarvis. She's the host of the dropout podcast, and ABC News is chief business technology and economics correspondent. And she's now spent years covering Elizabeth Holmes. Her spectacular rise founding theranos, a healthcare pioneer is being compared to visionaries like Bill Gates and Steve Jobs this morning Elizabeth Holmes and her incredibly public fall. The verdict is in the disgrace theranos founder and CEO found guilty that fall and in this week when Holmes was found guilty on four counts of fraud or conspiracy for misleading investors about theranos technology. Does it feel strange at this point to have a verdict so much went into this? You were following every single twist and turn of this trial. How do you feel now? It is. It's a surreal thing to have spent so many years of my life following this story and to have something of a conclusion. The question now is what, if anything, Silicon Valley will take away from all of this. It's easy for founders and investors to write homes off as a liar and an outlier. But she didn't commit her crimes in a vacuum. Today on the show, Silicon Valley saw what it wanted to see in Elizabeth Holmes. So what does it do with the record of her story? I'm Lizzie O'Leary and you're listening to what next TBD, a show about technology, power, and how the future will be determined. Stick around. The U.S. government had charged Elizabeth Holmes with 11 counts of fraud and conspiracy. It said she deceived both investors and patients about theranos blood testing technology. Technology that you'd promised could run hundreds of lab tests, just a few drops of blood. For people who haven't been paying close attention to this case, let's lay out the verdict. There were 11 charges she was convicted on four, how would you characterize the verdict? The simplest way to see this is on most of the investor counts they found her guilty on the patient counts they found her not guilty. I would say that when it came to the investor counts, it was clear cut and this is also based on conversations that we've now had with the jury two of them have spoken to us. And their sense was Elizabeth Holmes was directly tied to the financial decision making inside of her company and directly tied to the conversations where she misled investors on four of those counts. And that's where they found her guilty, where it was a bridge too far was when it came to the patients. The jurors didn't see a link between intent as in Elizabeth Holmes went out and intended to defraud patients in the way that they saw it with investors..
TIME's Top Stories
"elizabeth holmes" Discussed on TIME's Top Stories
"Theranos founder Elizabeth Holmes convicted of fraud and conspiracy by Michael lido, Associated Press, San Jose, California. In a case that exposed Silicon Valley's culture of hubris and hype. Elizabeth Holmes was convicted Monday of duping investors into believing her startup theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood. A jury convicted homes who was CEO throughout the company's turbulent 15 year history on two counts of wire fraud and two counts of conspiracy to commit fraud after a 7 days of deliberation. The 37 year old was acquitted on four other counts of fraud and conspiracy that alleged she deceived patients who paid for theranos blood tests too. The verdict came after the 8 men and four women on the jury spent three months sitting through a complex trial that featured reams of evidence and 32 witnesses, including homes herself. She now faces up to 20 years in prison for each count, although legal experts say she is unlikely to receive the maximum sentence. The jury deadlocked on three remaining charges, which a federal judge anticipates dismissing as part of a mistrial ruling that could come as early as next week. The split verdicts are a mixed bag for the prosecution, but it's a loss for Elizabeth Holmes because she is going away to prison for at least a few years, said David ring, a lawyer who has followed the case closely. Federal prosecutors depicted homes as a charlatan obsessed with fame and fortune, and 7 days on the witness stand, she cast herself as a visionary trailblazer in male dominated Silicon Valley, who was emotionally and sexually abused by her former lover and business partner, sunny balwani. The trial also laid bare the pitfalls of a swaggering strategy used by many Silicon Valley entrepreneurs, conveying a boundless optimism regardless of whether it's warranted, known as fake it till you make it. That ethos helped hatch groundbreaking companies such as Google Netflix, Facebook, and Apple, the latter cofounded by one of home's heroes, Steve Jobs. Her conviction might lower the wattage at least temporarily on the brash promises and bold exaggerations that have become a routine part of the tech industries innovation hustle. The trial's outcome will send a message to CEOs that there are consequences in overstepping the bounds, predicted Ellen kreuzberg, a Santa Clara university law professor who attended the trial. But she also believes greed will keep hyperbole alive in Silicon Valley. Investors are still going to want to make more money on a promising idea. Kreuzberg sat. They will always go in for the golden ring. Homes remained seated and expressed no visible emotion as the verdicts were read. She bowed her head several times before the jury was polled by U.S. district judge Edward davila, after the judge left the courtroom to meet with jurors individually, Holmes got up to hug her partner, Billy Evans, and her parents before leaving with her lawyers. During a brief break after the verdict was read, a visibly shaken Evans stepped into the courthouse hallway to get a drink from a water fountain while apparently trying to compose himself. Holmes did not respond to questions about the verdicts lobbed at her during a three block walk from the courthouse to the nearby hotel where she has stayed during jury deliberations. She was to remain free on bond while awaiting sentencing, which will be determined by the judge, the judge indicated that he is likely to hold off on the sentencing until the completion of a separate trial involving similar fraud charges against balwani, who once theranos chief operating officer from 2009 to 2016 balwani trial is scheduled to start next month in the same San Jose courtroom, where Holmes's legal saga unfolded..
AP News Radio
Holmes jury to take break after six days of deliberation
"Six six days days isn't isn't enough enough for for jurors jurors in in the the fraud fraud trial trial of of former former Theranos Theranos CEO CEO Elizabeth Elizabeth Holmes Holmes jurors jurors won't won't resume resume deliberations deliberations until until after after the the new new year's year's holiday holiday weekend weekend they they had had been been expected expected to to return return today today but but a a court court filing filing after after they they left left Wednesday Wednesday disclosed disclosed they they will will be be taking taking a a break break until until Monday Monday there there was was no no explanation explanation for for the the pause pause homes homes is is facing facing eleven eleven criminal criminal charges charges alleging alleging she she duped duped investors investors and and patience patience by by hailing hailing her her company's company's blood blood testing testing technology technology as as a a medical medical breakthrough breakthrough when when in in fact fact it it was was prone prone to to wild wild errors errors if if convicted convicted she she faces faces up up to to twenty twenty years years in in prison prison I'm I'm my my camp camp in in
AP News Radio
Holmes jury resumes deliberations after closed-door meeting
"Jury jury deliberations deliberations continue continue in in the the three three month month trial trial of of Elizabeth Elizabeth Holmes Holmes the the Silicon Silicon Valley Valley health health company company founder founder charged charged with with fraud fraud the the jury jury in in San San Jose Jose California California weighing weighing eleven eleven criminal criminal charges charges against against former former Theranos Theranos CEO CEO Elizabeth Elizabeth Holmes Holmes will will resume resume their their deliberations deliberations today today amid amid some some intrigue intrigue raised raised by by a a mysterious mysterious closed closed door door meeting meeting among among her her attorneys attorneys federal federal prosecutors prosecutors and and U. U. S. S. district district judge judge Edward Edward Davila Davila on on Tuesday Tuesday the the hearing hearing transcript transcript is is sealed sealed but but it it would would not not be be unusual unusual for for plea plea agreement agreement discussions discussions to to take take place place during during a a trial trial when when a a jury jury takes takes a a long long time time to to deliberate deliberate last last week week the the jury jury was was allowed allowed to to replay replay of of a a twenty twenty thirteen thirteen recording recording of of homes homes discussing discussing their their own own us's us's dealings dealings with with prospective prospective investors investors prosecutors prosecutors allege allege Holmes Holmes duped duped investors investors and and patients patients claiming claiming her her company's company's blood blood testing testing technology technology was was a a medical medical breakthrough breakthrough when when in in fact fact it it was was prone prone to to gigantic gigantic errors errors if if she's she's convicted convicted homes homes faces faces up up to to twenty twenty years years in in prison prison I'm I'm Jennifer Jennifer king king jury jury deliberations deliberations continue continue in in the the three three month month trial trial of of Elizabeth Elizabeth Holmes Holmes the the Silicon Silicon Valley Valley health health company company founder founder charged charged with with fraud fraud the the
AP News Radio
Jurors in Elizabeth Holmes criminal trial are handed case and begin deliberations as arguments conclude
"Is is scheduled scheduled to to begin begin his his first first full full day day of of deliberations deliberations in in the the trial trial of of a a former former Silicon Silicon Valley Valley CEO CEO jurors jurors began began deliberating deliberating late late Friday Friday afternoon afternoon as as they they try try to to decide decide whether whether former former Theranos Theranos CEO CEO Elizabeth Elizabeth Holmes Holmes turned turned her her blood blood testing testing start start up up into into a a massive massive scam scam she's she's facing facing eleven eleven charges charges of of fraud fraud and and conspiracy conspiracy and and if if convicted convicted on on all all counts counts could could spend spend up up to to twenty twenty years years in in prison prison Holmes Holmes is is accused accused of of duping duping investors investors business business partners partners and and patients patients by by claiming claiming Theranos Theranos testing testing device device could could scanned scanned for for hundreds hundreds of of diseases diseases with with a a few few drops drops of of blood blood taken taken from from a a finger finger **** **** eventually eventually the the flaws flaws in in the the company's company's technology technology were were exposed exposed in in Theranos Theranos collapsed collapsed on on my my campus campus the the jury jury is is scheduled scheduled to to begin begin its its first first full full day day of of deliberations deliberations in in the the trial trial of of a a former former Silicon Silicon Valley Valley CEO CEO jurors jurors
Squawk Pod
"elizabeth holmes" Discussed on Squawk Pod
"About this Silicon Valley I think has changed somewhat. But we were well ahead of telling people externally, this is something we need full alignment on. And obviously, internally, we occasionally listen to ourselves, and we've built what we believe are highly differentiated products, both on bulk datasets using machine learning and next generation AI in a war setting. And also, I was just going to say, you've been very critical of other Silicon Valley companies that have stayed in China. A number of silicon valleys have left China. But what do you think of those that are still doing business in China, the biggest? The biggest of course is Apple. You know, we believe it power in full disclosure. If a company wants to work in an adversarial country, I just think they should work it into work there and defend it. You know, a panel here, we have our views. Many times those views have been very controversial. We picked up and moved to Denver because our views were too controversial in Silicon Valley. We are an international business. We defend the U.S. government. We defend western governments all over the world. We have a massive business all over Europe. We have a massive business in the Middle East. We have certain values we stand by. If you want to work in China or any other country that is adversary or not adversarial to America, you should disclose it and defend it. Our view, though, is slightly different. You should work wherever you can ethically justify internally and externally. However, if you do not work with the U.S. government, you should disclose why you're not working with the U.S. government and why you're working with other governments that are adversely already the U.S. government. And that's been our position. We, of course, a Palantir are very proud to develop products that make the western world stronger. And we hope that those products put us in a position where we decide what the ethics of the world will be. American its allies, not just in America. And therefore, influence the world in a positive way. Alex, you have left Denver. You have left Denver. You've left California to go to Denver, a number of big companies including Tesla have now moved their headquarters to Austin. Long term, what do you think happens to California? And what do you think's happening in terms of this larger trend? Well, I mean, honestly, I think people leaving will help California quite a bit, because in reality, California has a lot of advantages for building tech in America is still the strongest nation in the world is certainly if it comes to software, enterprise software technology probably defined. But California needs competition, like, and by the way, we didn't leave primarily for economic reasons. We left because it became a monoculture politically. I mean, I happened to be progressive, but we believe in a culture where everyone gets to have an opinion and where people get to defend their opinion. I think this will help California quite a bit long term. Short term, it's a huge problem. I want to ask you about the stock, which of course has done quite remarkably, but I want to read you something and get your feedback on it. This is an analyst who wrote the following. On one hand, Palantir exceeds its own growth estimates, expanding its contractually secured revenue rapidly further the business model is highly scalable resulting in significant margins. On the other, bears are not wrong to criticize Palantir's cash burning problem and excessive stock based compensate compensation, which keeps diluting shareholders to oblivion. You know, let me tell you a story of Palantir that it will answer your question. So not the typical obfuscation you're used to from corporate executives. When we went to when we went to Silicon Valley, said, we are going to build software platforms for the U.S. government. They said, why would you build something for the U.S. government? It's hard to work with government and data is worthless. By the way, they literally said, why would you focus on data protection no one will believe the product will work? And by the way, something that is fully aligned with your clients is just not smart. You should turn your clients into a product and monetize them. We rejected that advice. And then we went to the U.S. government and they told us build your product in a way we want IE a PowerPoint for the PowerPoint developed by someone who was not technical for something that was necessary in the 70s. We didn't do that. We built a number of products that are now in the market and are winning in the market. To do that, we've hired the best and most interesting and eclectic people in the world. They work at power. They work at power for lots of reasons, but they're very fairly comped. And we continue, we will continue to develop these products and continue to comp people. And we are very, very focused on being fully aligned with our clients and aligned with people who own our stock. What does that mean in the real world? It means that we will continue to be very focused on delivering value. We will continue to cut people and I don't believe we're deluding people into oblivion. Which is pretty interesting by the way about the analyst. Many of whom are highly substantive and attuned to our product is de facto they're saying what the generals used to say to us build the product we can understand and then we'll reward you with capital. We're building the product our clients need and the world needs. And we believe over time and we've already seen this, the world reward us in a reward our shareholders. And that's basically our view. Alex is great to see you. It's been a great success story. And we look forward to following your progress and we wish you a Happy Thanksgiving. I wish you Happy Thanksgiving as well. Thanks Alex. Cheese will be next. Theranos founder Elizabeth Holmes taking the stand in her own defense, covering that trial is our own Scott cone. Next, on squawk pod. Get in early. Join the CNBC investing club with Jim Cramer, be among the first. Get tips straight from Kramer, the only club with exclusive trading leads for early access symmetry email at CNBC dot com slash investing club. You're listening to squawk pod, and here's Becky quick. There are no founder Elizabeth Holmes is going to be back on the witness stand in her criminal trial, telling jurors, how much she believed in her blood testing technology that prosecutors say was a fraud. This is her third day on the stand. And Scott Cohen is in San Jose to tell us what we can expect today. Hi, Scott. Hi Becky. It's her first full day on the witness stand a day. She was on the stand for about an hour on Friday and just about two hours yesterday. Remember that a key to her defense against the 11 fraud and conspiracy counts that she faces is that she never intentionally deceived anyone. And that's what the testimony has been about thus far. Under friendly questioning from her defense attorney Kevin Downey, she talked yesterday about theranos early successes, how they seem to manage to miniaturize and automated blood testing systems. She said that was a really big idea. And about the work that they were doing on monitoring the progress of a drug and a patient's bloodstream in looking for disease markers from tiny samples and they were working on these things, she said with some of the biggest pharmaceutical companies. Now contrast that to the government's case over 11 weeks where they had theranos insiders, pharma executives and others, saying that Elizabeth Holmes glossed over problems and lied to investors. Well, the defense says that Elizabeth Holmes was a true believer in her company and the technology until the bitter end. The psalms in retrospect, do you think that you spent a little too much time at theranos dwelling on the positive things that you testified about today and not enough tending to the problems? Now, be clear if she had just done that emphasize the positive and deemphasize the negative. That would not be a crime. And that is another key to the defense here that failure is not a crime. The government is going to try and question her about whether she did in fact lie to investors about what was going on at theranos, but it looks like they're not going to get a chance to do that until next week. She will be on the stand today all day for direct testimony. Then it's the holiday weekend. There's no court tomorrow. So the hope among the defense appears to be that the jurors will be left with an impression of Elizabeth Holmes, earnest, a believer in her company,.
AP News Radio
How Elizabeth Holmes Soured the Media on Silicon Valley
"Their owners founder Elizabeth Holmes has taken the stand at her trial you can't tell your side of the reporters trailed Elizabeth Holmes as you looked at federal courthouse in San Jose California the fall in Silicon Valley star took the stand late Friday afternoon in her trial for criminal fraud will back again on Monday the former entrepreneur will attempt to refute allegations by federal prosecutors that she bamboozled investors and patients about her start up Theranos and blood testing machine called Edison that she claimed would reshape health care homes began her testimony by recounting her early years as a student at Stanford University her interest in disease detection while working with the respected chemistry professor who later joined the company she talked about dropping out of school at the age of nineteen and convincing her parents let her use your college savings to found a startup the government's evidence included internal documents and emails and
AP News Radio
Jury gets chance to hear Elizabeth Holmes' bold promises
"A federal jury in San Jose California weighing the fate of fallen Silicon Valley star Elizabeth Holmes has heard audio evidence in her fraud trial federal prosecutors played a series of recordings of all of the calls boasting to investors about what she claimed was a breakthrough in blood testing technology buyer firm Theranos the government alleges that homes due to sophisticated investors and major retailers about a bogus device called Edison the machine was supposed to be able to use a few drops of blood to scan for hundreds of potential health problems the flurry of investments at one point totaled nine billion dollars with their nose while not being in only forty Walgreen's stores after it invested millions if convicted almost could face up to twenty years in prison I Norman hall
The Daily
"elizabeth holmes" Discussed on The Daily
"Order to.
On The Media
"elizabeth holmes" Discussed on On The Media
"Director <Speech_Male> <SpeakerChange> <Speech_Female> <Silence> <Speech_Music_Male> <Speech_Music_Female> <Advertisement> <Music> <Speech_Male> in public <SpeakerChange> company <Speech_Male> for ten years. <Speech_Female> So what about all <Speech_Female> of those grand <Speech_Female> old men. <Speech_Female> Who were duped by <Speech_Female> this george <Speech_Female> <Speech_Female> who <Speech_Female> kept throwing birthday <Speech_Female> parties for elizabeth <Speech_Female> homes <Speech_Female> and all the other <Speech_Female> people. Jim <Speech_Female> mattis henry. <Speech_Female> Kissinger <Speech_Female> sam <Speech_Female> nunn. <Speech_Female> Rupert murdoch <Speech_Female> did <Speech_Female> any of them admit <Speech_Female> to being <Speech_Female> wrong <Speech_Female> and learning from <Speech_Female> this magical <Speech_Female> thinking <SpeakerChange> in which <Silence> they had all indulged. <Speech_Male> You <Speech_Male> know very few of them <Speech_Male> if any have <Speech_Male> at least publicly <Speech_Male> I'm told <Speech_Male> however by <Speech_Male> a very very very <Speech_Male> good source <Speech_Male> that george shultz <Speech_Male> recently <Speech_Male> admitted to <Speech_Male> his family that he <Speech_Male> had been wrong all along. <Speech_Male> He <Speech_Male> did so after reading <Speech_Male> the sec charges <Speech_Male> and <Speech_Male> he told members <Speech_Male> of his family that he <Speech_Male> had no idea that <Speech_Male> there had been that amount <Speech_Male> of lying and <Speech_Male> and he <SpeakerChange> was <Speech_Male> clueless about <Speech_Female> it. Schultz always <Speech_Female> claim he never <Speech_Female> knew about <Speech_Female> iran contra <Speech_Female> when he was reagan <Speech_Female> secretary <SpeakerChange> of state <Speech_Male> either <Speech_Male> rate <Speech_Male> and he survived watergate <Speech_Male> and his <Speech_Male> reputation <Speech_Male> was pretty much <Speech_Male> unblemished and <Speech_Male> unfortunately <Speech_Male> a
On The Media
"elizabeth holmes" Discussed on On The Media
"Is an on the media podcast. Extra i'm senior producer. Laugh that are bringing you an update to a story brick and i worked together a few years back when then wall street journal reporter john carroll. Roux published bad blood. His eye-popping expose of elizabeth homes and her promise to revolutionize the blood testing industry. There's an opportunity to create a new paradigm being able to make actionable health information accessible to people everywhere. At the time it matters a decade earlier at the age of nineteen homes had founded theranos accompany built on the claim that it's micro flu. Wittig technology could facilitate a move from deep-vein blood draws to test based on a single drop of blood it promised easier cheaper more lab tests and it quickly became a silicon valley darling. Serono's is valued greater than say quest diagnostics or labcorp. In two thousand fourteen. Fortune magazine ran a now iconic cover story featuring homes blonde hair a black turtleneck. A deadpan stare into the camera and the headline. This ceo is out for blood but only sixteen months later. Carry would start publishing damning articles and home star would come tumbling to the ground. Two articles published in the wall street journal investigated the efficacy and accuracy of the single finger. Frick blood tests. That put their nose on the math. Theranos saying it is scaling back. Its tests after the expose in the wall street journal claims the company uses its key technology and just one of its tests. Theranos had been falsifying results and lying about the efficacy of its technology for years. Seven hundred million dollars of investors money going both vaporized and now years later homes is being called to account the criminal trial of former theranos. Elizabeth homes gets underway today in san jose. California homes faces up to twenty years in prison if convicted. It's a trial that caros chronicling in a set of bonus episodes for the podcast. Bad blood the final chapter with co host. Emily saw in it carroo notes. The challenges of finding jurors unfamiliar with the now infamous home story easily. Half of the prospective jurors had read stories about the case or seen tv segments about it or heard radio segments or watched one of the documentaries and some had read my book. None of them was picked in the end. The selection process resulted in jury that has a disproportionate number of older white men. Which as care ru pointed out to brooke when they spoke back in two thousand eighteen is a demographic that homes has a track record of winning over to her. 'cause the first one was channing robertson. Her engineering school professor when she dropped out of stanford and he helped give credibility when she was just a teenager a year or two later she met donald l lucas a pretty well known venture capitalist who had groomed. Larry ellison who went on to create oracle and then she met george shultz the former secretary of state. Who crafted the reagan administration's foreign policy and she wowed him. He joined her board and pretty soon introduced her to all his buddies at the hoover institution. Which is the conservative think. Tank housed on the stanford campus. What was the goal of the company. What was the problem. It was trying to solve well. It in elizabeth homes is view. The blood testing industry was broken. Controlled by these two. Big companies labcorp inquest and they still use decade old methods namely the big hypodermic needle drawing five tubes of blood she likened it to a medieval torture mechanism. The fact of the matter is that if elizabeth had invented as she claimed a new way to test blood from just a drop or two pricked from finger from which you could do the full range of tests that would actually have been a big advance in medicine something that thousands of researchers and academia and industry have been working on for twenty years where you would prick the finger. Get a small sample blood. Put it in this cartridge which would slot into a reader. Send a signal from the reader to a doctor's computer and give the doctor. The patient's blood test result. Okay now we have that for testing Blood sugar. It was inspired from the blood. Sugar glucose monitors is except. She wanted them to do all the tests. That's much more difficult to pull off than it might sound. Because they're different classes of tests and those different classes of tests require completely different lab methods and completely different lab instruments so most nineteen year olds hand secure millions of dollars in funding. So what was so different about elizabeth. She at first leveraged her family connections. Her family's neighbours happen to be the drapers. Tim draper is a very well known. And very successful venture capitalist in silicon valley when elizabeth dropped out of stanford a decade later. She knocked on. Tim draper's door and he actually wrote her Her first check for a million dollars. She also approached a friend of her father's a guy named victor palmieri. Who's a retired businessman. He also invested in theranos and she hit up some students in her class at stanford the chiang family and they were heirs to a multibillion dollar taiwanese tech distributor. Yeah she had connections. But that doesn't mean you can loveridge them. Describe this young woman. Full of energy believed one hundred percent in her vision or calling to be an entrepreneur. She got turned down by quite a few of venture capitalists. I have an anecdote in my book about a medical technology. Vc firm investing in and med tech companies for decades and when she sat down with the partners there she spoke in grand terms of her ability to sort of change mankind but when they tried to ask her very technical questions she was stopped and got defensive and after about an hour Stood up and left in a huff. The theranos story wasn't coming primarily from reporters with healthcare backgrounds. The story came from people who covered technology or who were covering her beginning with the wall street journal write the first mainstream publication that put her on. The map was my own newspaper op. Ed writer named joe radio went out to california to interview her in a friendly piece. Pretty much took her claims of having invented this groundbreaking new science at face value. And that's the first piece that put her on the map but then there was a piece in wired magazine a few months later in early two thousand fourteen and then the story that really really rocketed her to fame. Was the magazine cover story in fortune magazine in june of two thousand fourteen and so how would you characterize that coverage. This was not about the technology as much as it was about the techie nece and the technologist rate. Her product wasn't a traditional silicon valley product. It wasn't software or computer hardware or smartphone app. It was actually a medical product but she managed to get the press to approach her from that traditional silicon valley perspective and she modeled herself. After steve jobs she wore the black turtleneck started doing that as early as two thousand. Six two thousand seven. She hired the same advertising agency that had created iconic apple advertising campaigns shy day in los angeles there were also adds in which elizabeth herself was featured on thinking of one in particular that was directed by errol morris the oscar winning documentary filmmaker. It's a close up shot of her and she's speaking into the camera with her. Big blue is that don't blink much and She speaking very slowly and deliberately. And it's almost hypnotic. When you watch her at customize almost.
Slate's Double X Gabfest
"elizabeth holmes" Discussed on Slate's Double X Gabfest
"Meets next now. We're gonna talk about elizabeth homes the former ceo of theranos a testing startup. That did not exactly do what was promised to the point where homes as you probably have heard is awaiting criminal trial right now and we're gonna talk about we're homes fits into the era of the girl boss. Emily would you consider homes girl boss. Okay so when we. I decided to talk about this. I thought she wasn't a girl boss. Now i've decided she is definitely a girl boss. Elizabeth holmes was definitely girl boss because she just fell into that marketing apparatus of girl boss. She was celebrated as a woman shannon. You pointed out that. She was celebrated as a woman of the year in glamour. She landed on the cover of fortune. Magazine famously. She was widely covered and celebrated for being the first female billionaire entrepreneur. If you watch the documentary about her on. Hbo which i recommend. There's like scenes of her sort of surrounded by women who clearly are looking up to her as a girl boss. It's like she didn't go round. Like sophia amoroso. An an advertiser self as a girl boss but she sought out all that coverage And she she basically leaned into positioning herself as a girl boss. I think lean into being a girl. Lost i agree. I think that. I think that you know people around her treated her like a girl boss. There's a lot of like subtext. Maybe even taxed in john kerry ruse book bad blood where she was this charming sort of like granddaughter like figure to some of her investors. She worked while on the cover of these magazines. Because they could say you know. We're promoting equality We're putting a woman on the cover. Choose a self made woman girl billionaire and also there's other element now as she is solidified in the chronicles of history as kind of a scammer. Where sophia amoruso talks about in her book the little bit that i could stomach really listening to this weekend about how the first thing she sold online was a book. She stole on ebay and how she engaged in like shoplifting and petty thievery before reforming herself to start this multimillion dollar company. And i think that in both of them they're sort of this strain of like being immune to the rules of society in a way and kind of whatever you have to say or do to get yourself to the top kind of is okay because you're furthering this larger cause of like changing the world with like your unit and your but it's interesting you mentioned sort of like do whatever it takes to get to the top pull off the scam because so many men who make it to the top are also doing whatever it takes. The facebook motto. That mark zuckerberg came up with his move fast and break things people loved until recently. Adam newman the co founder of we work who basically another kind of scammer and these people. Adam newman zuckerberg have been criticized for these things. But i think. I think the women the girl bosses get criticized. More harshly i. There is higher expectations. That women aren't gonna scam. You rip you off light. You do whatever it takes right. Yes so. I think one of the things i think about when you know the question of are we harder and women than we are on men comes. Up is the fact that elizabeth homes is actions have consequences for other women who are not in any way. She conducted her except for the fact that they're women there. Is this piece in the new york times. A couple of weeks ago titled based to live in the shadow of their noses elizabeth homes about female entrepreneurs facing comparisons to homes when they're talking to investors and having a little bit of a harder time selling people on it if the marketing apparatus of woman entrepreneur in silicon valley was a good strategy for promoting company. And then the top woman topples it becomes a little bit of like dodgers poisonous strategy but like a way to exist. That's been tainted. It's the curse of the i i think see it for people of color to allot. It's there's so much expectations on you so much expectations on you when you're the first the first female billionaire the first successful entrepreneur. That's a woman that it's going to. It's going to rain on everyone else and it's just it's not fair i don't know i'm i doubt that men are going into you know being compared to like adam knew the same like the same level of toxicity ramifications way. Maybe there's a guy with like a co working idea. I'd the heart. But yeah co working might be tainted by. Adam newman but like there are plenty of. Ceo's named adam that are going to be fine literally. That may look just like him. That will be fine like it's not His downfall doesn't like diminish all the other atoms. All the other longish haired ceos. They're probably going to be okay. But because there are so few women homes her falling off a pedestal. Kind of like shakes everyone else's foundations too. So maybe this is a good time to talk about. If we think home is going to play up the fact that she's a woman and the fact that women are subject to sexism at her trial. John kerry ru on his podcast bad blood. The final chapter talked about the fact that elizabeth homes as a new mom. And he says he's kind of he self-aware implications of s. i thought was like oh my god. She's doing it for sympathy. Yeah like i have to admit that was. That is kind of my main thought. Too hard to look at this person who's been in the public eye as a scammer. Not think that cynically about about her motives. Yeah not only has john kerry and others said oh. Elizabeth home just got pregnant for sympathy to make her the juror. Feel more empathy for her but also the reporting says her her defense will be that her boyfriend at the time when she was at theranos that chief operating officer of theranos sonny bloch wani. was abusing her physically and mentally. And that's why she did her scam. I think it's a it's a longshot. Defense and also puts all of us in a weird the jury the media and in this weird position where we all say we wanna take these kinds of allegations seriously at the same. It's hard to take them seriously when it's coming from elizabeth homes. It's really kind of a mess. It's important to note that sunny by wani. has i think through his lawyers. Spokespersons has denied all those allegations categorically and says there was no such abuse at all so kevin hunter an outside consultant hired tibet theranos who has been subpoenaed to testify at the trial told. Abc's podcast the dropout that during his time interacting with their house. It was very clear that elizabeth was in charge. That it was just ludicrous to think that sunny it was controlling her. Because elizabeth defense. Maybe that she wasn't in charge that this was really sonny's operation..
Reality Life with Kate Casey
"elizabeth holmes" Discussed on Reality Life with Kate Casey
"Welcome back to another episode of reality. Casey hope that you've had a great week this week. Marks the beginning of the elizabeth homes trial the case. Us versus homes began on tuesday with jury selection. One of my most favorite documentaries on my all time. Favorite list is the inventor executive produced by academy award winner. Alex gibney who also did enron the smartest guys in the room and hbo's emmy winning going clear scientology in the prison of beliefs this. Hbo documentary investigates the rise and fall of theranos the one time multibillion dollar healthcare company founded by elizabeth homes in twenty four elizabeth holmes dropped out of stanford to start a company that was going to revolutionize healthcare in twenty fourteen theranos was valued at nine billion dollars making her touted as the next steve jobs. The youngest self made female billionaire in the world but just two years later. Theranos was cited as a massive fraud by the sec and its value is less than zero so if convicted elizabeth holmes faces up to twenty years in prison plus two point seven five million dollars in fines as well as restitution to be paid out to victims drawing on extraordinary access to never before seen footage and testimony from key insiders. The inventor tells a silicon valley tale. That was too good to be true. It examines how this could have happened. And who is responsible while exploring the psychology of deception elizabeth group in unacademic home of privilege. Her mom noel was a congressional committee staffer and her dad christian worked for enron before moving to government agencies like usa id. She was a bright child. She had a competitive streak and early as age. Nine told relatives that she would one day become a billionaire in high school. She became a straight a student in started her own business selling compilers a type of software that translates computer code two chinese schools she went to stanford to study chemical engineering and while a freshman became president scholar and honor which came with a three thousand dollars stipend to go towards a research project as a sophomore. She went on one of our professors channing. Robertson and said let's start a company so with his blessing. She founded real time cures later. Changing the company's name to theranos she's soon filed a patent application for a medical device for analogue monitoring and drug delivery a wearable device..
Reality Life with Kate Casey
'The Inventor' Documentary Investigates the Rise and Fall of Theranos
"Week. Marks the beginning of the elizabeth homes trial the case. Us versus homes began on tuesday with jury selection. One of my most favorite documentaries on my all time. Favorite list is the inventor executive produced by academy award winner. Alex gibney who also did enron the smartest guys in the room and hbo's emmy winning going clear scientology in the prison of beliefs this. Hbo documentary investigates the rise and fall of theranos the one time multibillion dollar healthcare company founded by elizabeth homes in twenty four elizabeth holmes dropped out of stanford to start a company that was going to revolutionize healthcare in twenty fourteen theranos was valued at nine billion dollars making her touted as the next steve jobs. The youngest self made female billionaire in the world but just two years later. Theranos was cited as a massive fraud by the sec and its value is less than zero so if convicted elizabeth holmes faces up to twenty years in prison plus two point seven five million dollars in fines as well as restitution to be paid out to victims drawing on extraordinary access to never before seen footage and testimony from key insiders. The inventor tells a silicon valley tale. That was too good to be true. It examines how this could have happened. And who is responsible while exploring the psychology of deception
Mark Thompson
Theranos Founder Elizabeth Holmes on Trial as Jury Selection Begins
"Miracle. She promised that a single drop of blood. Could give you information about numerous diseases and conditions that may be in your future. She was the darling of the tech industry until it all came crashing down. And today Elizabeth Holmes goes on trial over three years after she was indicted on fraud and conspiracy charges. Today. Elizabeth Holmes goes on trial Jury selection begins today in the Bay Area. At one point, Holmes was as Silicon Valley superhero dropping out of Stanford and then creating Theranos only to find out her company's blood testing technology. That he did not do what she claimed at trial. The question will be weather. Holmes knew all along that she had a device A didn't work. Holmes is expected to point the finger at the company's CEO, who is also charged and with whom she had a romantic relationship.
Planet Money
Elizabeth Holmes' Lawyers Say She Suffered Partner's Abuse
"The criminal fraud trial of Elizabeth Holmes starts next week in Silicon Valley. She's a disgraced founder of the blood testing company, Theranos. NPR's Bobby Allyn reports on new court documents that shed light on her defense. Holmes is accused of defrauding patients and investors by making false claims about their nose equipment. In newly unsealed court papers. Her lawyers say she plans on pointing a finger at her ex boyfriend, Sonny Bill Joani. He was a top there are no executive and is also charged with fraud, but will be tried separately. Holmes legal team accuses Boudouani of emotionally and sexually abusing homes they say that impacted her state of mind during the alleged crimes. Bonnie's lawyers call this claim salacious and inflammatory Jury selection and Holmes trial starts Tuesday. She faces 20 years in
What Next | Daily News and Analysis
"elizabeth holmes" Discussed on What Next | Daily News and Analysis
"In things like this. I would love to say yes. I think that the sad truth is that history continues to repeat itself. This idea of affinity investing. It still exists saying. Oh i know that guy or girl. They're great they're brilliant. Put your money with them. That that's still fully exists. Today i do think there are some who will be more cautious. But i don't mean to be cynical. But i don't. I don't get that impression but like maybe it's not such a hot idea to be so fixated on on the idea of one mercurial entrepreneur. Oh yeah but that doesn't seem to have shown that doesn't seem to have changed. But i would also say look. I'm sure that someone in the venture community who hears this conversation. We'll come right back to us and say oh press you love to celebrate individuals in this community. So how many people are you report on. Who you said were the next thing i think about where society is right now in the middle of a pandemic in this particularly intractable feeling phase and i wonder if that will influence the way the jury thinks about this that that the stakes are higher. That it's not just like ooh cool new technology startup but that this has such profound effects on people's lives and i feel like in that way. Maybe this this timing Maybe he's not great for her. I've thought a lot about that too. And i i agree with that. I also think that this idea of her lifestyle. Which again is something. Her attorneys fought very hard to keep out of the courtroom. The private jets the run-ins with celebrity with former presidents. The handbags the makeup the clothes the shoes all of these things which were a part of the benefits to her to being the founder and ceo. The company she did enrich herself and she did live a really good life on the idea that the technology worked. I've heard people say that. There's more writing on this than than elizabeth homes. That if if she goes to prison that it might be something that says to silicon valley like. Hey fig until you make it as not a great way to do business and if she does doesn't then it's just like game on for whatever you wanna do. Do you think that's fair. I do. I think a lot of.
Slate's If Then
"elizabeth holmes" Discussed on Slate's If Then
"In things like this. I would love to say yes. I think that the sad truth is that history continues to repeat itself. This idea of affinity investing. It still exists saying. Oh i know that guy or girl. They're great they're brilliant. Put your money with them. That that's still fully exists. Today i do think there are some who will be more cautious. But i don't mean to be cynical. But i don't. I don't get that impression but like maybe it's not such a hot idea to be so fixated on on the idea of one mercurial entrepreneur. Oh yeah but that doesn't seem to have shown that doesn't seem to have changed. But i would also say look. I'm sure that someone in the venture community who hears this conversation. We'll come right back to us and say oh press you love to celebrate individuals in this community. So how many people are you report on. Who you said were the next thing i think about where society is right now in the middle of a pandemic in this particularly intractable feeling phase and i wonder if that will influence the way the jury thinks about this that that the stakes are higher. That it's not just like ooh cool new technology startup but that this has such profound effects on people's lives and i feel like in that way. Maybe this this timing Maybe he's not great for her. I've thought a lot about that too. And i agree with that. I also think that this idea of her lifestyle. Which again is something. Her attorneys fought very hard to keep out of the courtroom. The private jets the run-ins with celebrity with former presidents. The handbags the makeup the clothes the shoes all of these things which were a part of the benefits to her to being the founder and ceo. The company she did enrich herself and she did live a really good life on the idea that the technology worked. I've heard people say that. There's more riding on this than than elizabeth homes. That if if she goes to prison that it might be something that says to silicon valley like. Hey fake it till you make it as not a great way to do business. And if she doesn't then it's just like game on for whatever you wanna do. Do you think that's fair. I do. I think a lot of.
What Next | Daily News and Analysis
"elizabeth holmes" Discussed on What Next | Daily News and Analysis
"Discounts vary and are not available in all states and situations when elizabeth holmes was nine. She wrote a letter to her father saying she wanted to discover something new. That mankind didn't know was possible. This per cassidy was a key part of her public image. She dropped out of stanford at nineteen and started theranos with the promise that her machines could shake up an industry that hadn't changed in decades. She wore steve jobs. Inspired black turtlenecks was photographed holding a miniscule vial of blood and a company's marketing slogan was one tiny drop changes. Everything i would describe her as somebody who is incredibly ambitious. Who at a very young age decided that she wanted to change the world. Who made a decision to drop out of school left school with a minimal amount of education and minimum amount of background. She surrounded herself with people who were very powerful but not necessarily people who were attuned to the work that she was specifically doing. Rebecca jarvis spent years covering homes and made an investigative podcast about her call. The dropout i listened to your show i was. I was pretty captivated by it. And then i feel like the title. The dropout was a sort of nod wink at the self mythology. Izing that elizabeth holmes could put forward. Can you describe some of the myths that she tried to make about herself. And i guess why you think she did that. You know wearing a black turtleneck. Lake steve jobs. Like why do all that stuff look. It's it's hard to fully be inside of her her head. But i do think that we are so frequently taught the myth of steve jobs. Everybody knows steve. Jobs always wore the black turtleneck. So there's i think there's a reverse engineering there that might have gone on for her that it's like the most basic things that a person could copy that. Suddenly in her mind made her the equivalent of a steve jobs and also in the mind of the press. Yeah everybody bought it at nineteen years old. Elizabeth holmes dropped out of stanford. She had a little tuition money and a big idea now at thirty one. She's what lots of teenagers with that background. Likely strive to become the youngest billionaire in the world that hettie when you hear that you know. It's it's not what matters what matters is if you go back and listen to the narratives that homes. The company were putting forward in twenty thirteen. Two thousand fourteen She saying the same thing over and over again. She's scared of needles. She wants to democratize health care. What was the elevator. Pitch for theranos. And why do you think it was so appealing. Well i think look every any. Pr person that you're gonna talk to. You is going to tell you to stay on message. And she did that. She had this message be. Don't like big needles being stuck into their arm part of it or one of those people right deeply so i was afraid of needles. I sought to change the world. I started out as this precocious. Young woman i am a drop out of stanford one of the best universities in the country so i was weeded out of many students. She is an outlier. She raised almost a billion dollars in capital. And this is something that for women. It's almost unheard of homes attracted some silicon valley's most prominent investors. She had former cabinet secretaries on aboard her company's struck a deal with walgreen's to put their nose blood testing centers in thousands of drugstores but it all began to unravel in twenty fifteen when the wall street journal reported that the theranos machines didn't work like they were supposed to and the company was secretly using commercial machines to test samples while homes and our ceo and lover sunny bhawani were publicly touting the company success and profitability privately things were falling apart since then homes has settled separate civil fraud charges with the securities and exchange commission without admitting guilt but what the government has to prove now in the criminal. Case is that homes wasn't just a true believer with bad luck but someone who intended to deceive investors and patients. The case with the investors isn't easier one for elizabeth because this idea of silicon valley puffery. Fake it till you make it. That might work of the investors are sophisticated people in like they shot right and that these were early stage investments and they should have had a better sense of things. Now that said she's lost some of the civil battles on that front or theranos has lost some of the civil battles on that front there have been a settlements along the way where investors have been paid some degree back of their original investments because they claimed that they made the investment under false pretenses and that claim was settled out of court the second part of the prosecution's case is about patients people who used theranos blood tests and got inaccurate and sometimes devastating results. People like breast cancer survivor sherry aker sherry had breast cancer. She had recovered. She went out got a theranos test. The theranos test came back showing levels that would indicate her breast cancer had returned Sherry has a week of her life where she believes based on a theranos test that her breast cancer has returned. It only becomes clear that that is not the case when she takes a blood test. That is not a theranos test. There are people who thought one thing about their lives and the diametric opposite was the case and it was because of a theranos test and i think in the last year and a half. I've thought so much about these theranos tests. And what if in the time of cova said there was something like that that existed like what if we were fully misinformed about healthcare and our healthcare decisions based on faulty information Cherie accurate the woman i mentioned. She has been subpoenaed to testify There are eleven patients whose experiences you'll be hearing about in the courtroom. The defense is sort of multi-pronged but really central to it is this issue of a missing database. What what is that. Why does it matter okay. So there's this database that includes results of their nose tests millions of them over the course of a handful of years. They could be very useful because you'd love to see if millions of tests were inaccurate if a huge percentage of the tests based on these results were inaccurate. That is very useful to the government's case that at least that this company wasn't doing what they said that they were supposed to be doing and they knew it because they have someone must have known that that these results were knackered if there were so many of them that's right theranos gave the government. What they say is access to this database. The government says we never actually got access to it. The the filed never worked we could never access the data. They are knows once..
Trumpcast
"elizabeth holmes" Discussed on Trumpcast
"Discounts vary and are not available in all states and situations when elizabeth holmes was nine. She wrote a letter to her father saying she wanted to discover something new. That mankind didn't know was possible. This per cassidy was a key part of her public image. She dropped out of stanford at nineteen and started theranos with the promise that her machines could shake up an industry that hadn't changed in decades. She wore steve jobs. Inspired black turtlenecks was photographed holding a miniscule vial of blood and a company's marketing slogan was one tiny drop changes. Everything i would describe her as somebody who is incredibly ambitious. Who at a very young age decided that she wanted to change the world. Who made a decision to drop out of school left school with a minimal amount of education and minimum amount of background. She surrounded herself with people who were very powerful but not necessarily people who were attuned to the work that she was specifically doing. Rebecca jarvis spent years covering homes and made an investigative podcast about her call. The dropout i listened to your show i was. I was pretty captivated by it. And then i feel like the title. The dropout was a sort of nod wink at the self mythology. Izing that elizabeth holmes could put forward. Can you describe some of the myths that she tried to make about herself. And i guess why you think she did that. You know wearing a black turtleneck. Like steve jobs like why. Do all that stuff look. It's it's hard to fully be inside of her her head. But i do think that we are so frequently taught the myth of steve jobs. Everybody knows steve. Jobs always wore the black turtleneck. So there's i think there's a reverse engineering there that might have gone on for her that it's like the most basic things that a person could copy that. Suddenly in her mind made her the equivalent of a steve jobs and also in the mind of the press. Yeah everybody bought it at nineteen years old. Elizabeth holmes dropped out of stanford. She had a little tuition money and a big idea now at thirty one. She's what lots of teenagers with that background. Likely strive to become the youngest billionaire in the world. Is that hettie when hear that you know. It's it's not what matters what matters is if you go back and listen to the narratives that homes. The company were putting forward in twenty thirteen. Two thousand fourteen She saying the same thing over and over again. She's scared of needles. She wants to democratize health care. What was the elevator. Pitch for theranos. And why do you think it was so appealing. Well i think look every any. Pr person that you're gonna talk to. You is going to tell you to stay on message. And she did that. She had this message be. Don't like big needles being stuck into their arm part of it or one of those people right deeply so i was afraid of needles. I sought to change the world. I started out as this precocious. Young woman i am a drop out of stanford one of the best universities in the country so i was weeded out of many students. She's an outlier. She raised almost a billion dollars in capital. And this is something that for women. It's almost unheard of homes attracted some silicon valley's most prominent investors. She had three former cabinet secretaries on aboard her company's struck a deal with walgreen's to put their nose blood testing centers in thousands of drugstores but it all began to unravel in twenty fifteen when the wall street journal reported that the theranos machines didn't work like they were supposed to and the company was secretly using commercial machines to test samples while homes and our ceo in lover. Sunny bhawani were publicly touting the company's success and profitability privately things were falling apart since then homes has settled separate civil fraud charges with the securities and exchange commission without admitting guilt but with the government has to prove now in the criminal. Case is that homes wasn't just a true believer with bad luck but someone who intended to deceive investors and patients. The case with the investors isn't easier one for elizabeth. Because this idea of silicon valley puffery fake it till you make it. That might work of the investors are sophisticated people in like they right and that these were early stage investments and they should have had a better sense of things. Now that said she's lost some of the civil battles on that front or theranos has lost some of the civil battles on that front there have been a settlements along the way where investors have been paid some degree back of their original investments because they claimed that they made the investment under false pretenses and that claim was settled out of court the second part of the prosecution's case is about patients people who used theranos blood tests and got inaccurate and sometimes devastating results. People like breast cancer survivor sherry aker sherry had breast cancer. She had recovered. She went out got a theranos test. The theranos test came back showing levels that would indicate her breast cancer had returned Sherry has a week of her life where she believes based on a theranos test that her breast cancer has returned. It only becomes clear that that is not the case when she takes a blood test. That has not a theranos test. There are people who thought one thing about their lives and the diametric opposite was the case and it was because of a theranos test and i think in the last year and a half. I've thought so much about these theranos tests. And what if in the time of cova said there was something like that that existed like what if we were fully misinformed about healthcare and our healthcare decisions based on faulty information Cherie accurate the woman i mentioned. She has been subpoenaed to testify There are eleven patients whose experiences you'll be hearing about in the courtroom. The defense is sort of multi-pronged but really central to it is this issue of a missing database. What what is that. Why does it matter okay. So there's this database that includes results theranos tests millions of them over the course of a handful of years. They could be very useful because you'd love to see if millions of tests were inaccurate if a huge percentage of the test based on these results were inaccurate. That is very useful to the government's case that at least that this company wasn't doing what they said that they were supposed to be doing and they knew it because they have someone must have known that that these results were inaccurate if there were so many of them that's right theranos gave the government. What they say is access to this database. The government says we never actually got access to it. The the filed never worked we could never access the data. They are knows once..
What Next | Daily News and Analysis
"elizabeth holmes" Discussed on What Next | Daily News and Analysis
"An iron woman rape behind it.
Slate's If Then
"elizabeth holmes" Discussed on Slate's If Then
"But the theranos blood testing devices didn't work like they were supposed to. The company was secretly running patient tests on standard commercial machines even as they doctors patients and the media otherwise there nose founder. Elizabeth homes has now officially been indicted on federal wire. Fraud charges the us turning twenty eighteen. The united states filed criminal charges against her and her former. Ceo and boyfriend sunny belt wani next week three years. After she was first indicted homes goes on trial for conspiracy and fraud. She faces up to twenty years in prison and has pleaded not guilty. It might seem like a slam dunk case for the prosecution. Many homes lies are documented. But rebecca says that doesn't mean it's a guaranteed victory after all. This is elizabeth homes. We're talking about if elizabeth was able to convince as she did. Investors former secretaries of state entire groups of people auditorium spilled with people if she was able to convince so many of her vision already. Why is it improbable that she would be able to convince. Twelve.
Slate's If Then
Elizabeth Holmes, From Blood Test to Facing Prison
"In twenty thirteen. Abc news correspondent. Rebecca jarvis was working on a story about high medical costs and we featured a woman who was spending a lot of money on blood tests and after that story ran. Rebecca got a pitch about a new start-up. Hey there's this blood testing company theranos and they can save your viewers a lot of money. She checked it out but couldn't get anyone to independently verify that these theranos blood tests which only used a finger prick and not a traditional vein. Stick we're actually going to be better and cheaper. It was one of those things where This just it. It doesn't fully lineup. it doesn't live up to what it would take for me to even consider covering it as a solution. So rebecca did news story but other reporters did and then shortly after that pitch elizabeth started showing up in all of these places and was very much a celebrity. Elizabeth was elizabeth homes stanford dropout their nose founder and ceo millionaire superstar and media. Darling elizabeth homes left stanford university at the age of nineteen to build a company. A healthcare pioneer is being compared to visionaries like bill gates and steve jobs this morning elizabeth homes is part of the news. Time one hundred list just out. Homes promised to revolutionize blood testing. She was young rich charismatic and seemingly everywhere whenever there's a quote unquote glass ceiling. There's an iron woman rape behind it but the theranos blood testing devices didn't work like they were supposed to. The company was secretly running patient tests on standard commercial machines even as they doctors patients and the media otherwise there nose founder. Elizabeth homes has now officially been indicted on federal wire. Fraud charges the us turning twenty eighteen. The united states filed criminal charges against her and her former. Ceo and boyfriend sunny belt wani next week three years. After she was first indicted homes goes on trial for conspiracy and fraud. She faces up to twenty years in prison and has pleaded not guilty.
WSJ What's News
Elizabeth Holmes' Lavish Lifestyle Looms Over Theranos Fraud Case
"There are no founder. Elizabeth holmes is fighting to shield her wealth from a ahead of her criminal fraud trial. Her attorneys sparred with federal prosecutors over whether details of her lifestyle including perks and fame attained as chief executive would be relevant to jurors. She's facing a trial in august on charges of wire fraud and to commit wire fraud for alleged misrepresentation. She made about theranos blood testing technology. The judge did an issue immediate ruling. She has pleaded not guilty
Squawk Pod
Elizabeth Holmes denies destroying evidence in Theranos case
"There is a new development in the theranos elizabeth holmes case it came late last night and attorneys for homes accused the government of losing a database that contained three years worth of accuracy and failure rates. If there are knows tests prosecutors alleged that theranos executives destroyed that database because it proved that the blood testing private product was inaccurate. This argument over testing evidence will be argued out before a judge next month and that will set the stage for homes as much awaited trial which is set to begin in july. This is really kinda complicated but the government the prosecutors say that they asked for this information they were given a backup drive that their executives gave them the drive. They forgot the password that they had sat on it They say that they are knows. People forgot the password that was set on it. They asked for this back in two thousand and eighteen. And i think three months later the main the main computer system the the database was destroyed after that they say it was done intentionally the prosecutors say that they have email evidence that shows that this was done intentionally but this is going to be just another step and incredibly compelling argument that we've watched back and forth.
TechStuff
The rise and fall of Elizabeth Holmes, the Theranos founder whose federal fraud trial is delayed until 2021
"The pandemic also delayed one of the more anticipated criminal trials. In recent tech history. Elizabeth holmes founder of medical startup fairness was to have her trial began in twenty twenty but the pandemic became a factor and the court would order the trial to be delayed until the spring of twenty twenty one for those who don't know who elizabeth holmes is or what her company theranos did. Here's a super brief rundown homes who idolized silicon valley leaders. Like steve jobs created a company that had the goal of developing a medical device. The device which was projected to be about the size of your typical desktop printer would be able to take a very small blood sample the tiniest little droplet and run hundreds of different analytical tests on that sample within a short time perhaps an hour or two the device would produce a report about that sample giving the user information about their health diagnosing any diseases or conditions and in theory empowering the user and the idea was to democratize medicine in a way that would give users more information about their own health and better to interact with their primary care physician and the medical establishment. Some doctors worried that this would cause people to misinterpret results but it turns out. They didn't really have much to fear because the device never worked properly at least not to the extent that the company wanted it to it turned out the actual process was way more complicated than home. Said i imagined. Enter team of engineers were tackling problem after problem in order to try and make it work in the meantime the allegations against home state that she and her fellow executives purposefully misled investors including using equipment from established blood testing companies to run blood tests while claiming that a theranos device was actually doing all the work the house of cards came crashing down but not before investors had poured more than seven hundred million dollars into it homes is now charged with numerous counts of fraud. And we'll have to wait to see how that all turns out.
TED Talks Daily
Theranos, whistleblowing and speaking truth to power
"So i had graduated seven years ago from berkeley with the dual degree in molecular and cell biology and linguistics. And i had gone to a career fair here on campus had gotten an interview with the startup called thanos and at the time. There wasn't really that much information about the company but the little that was there was really impressive. Essentially what the company was doing was creating a medical device where you would be able to run your entire blood pam panel on a finger stick blood. She wouldn't have to get a big needle stuck in your harm in order to get your blood tests done so this was interesting not only because it was less painful but also it could potentially open the door to predictive diagnostics. If you had a device that allowed for more frequent and continuous diagnosis potentially you could diagnose disease before someone got sick and this was confirmed in an interview that the founder elizabeth holmes had said in the wall street journal. You know the reality within our healthcare system today. Is that when someone you care about gets really sick by the time you found out. It's too late to do anything about it. And it's heartbreaking. This was a moonshot. That i really wanted to be a part of and i really wanted to help bills and there was another reason why i think the story of elizabeth really appealed to me so there was a time that someone had said to me. Erica there are two types of people. There are those that thrive in those that. Survive in you my dear our survivor. Before i went to university. I had grown up in a one bedroom trailer with six family members. And when i told people i wanted to go to berkeley they would say well. I want to be an astronaut. So good luck. And i stuck with it and i worked hard. I managed to get in honestly. My first year was very challenging. I was the victim of a series of crimes. I was robbed at gunpoint. I was sexually assaulted. And i was sexually assaulted at third time. Spring on very severe panic attacks where it was failing my classes and dropped out school and at this moment people had said to me erica. Maybe you're not cut out for the sciences. Maybe you should reconsider doing something else. And i told myself you know what if i don't make the cut i don't make the cut but i cannot give up myself and i'm going to go for this and even if i'm not the best for it i'm going to try to make it happen and luckily i stuck with it and i got the degree and i graduated. So when i heard elizabeth holmes had dropped out of stanford at age nineteen to start this company and it was being quite successful to me. It was a signal of you know. Didn't matter what your background was. As long as you committed hard work and intelligence that was enough to make an impact on the world. And this was something for me personally that i had to believe in my life because it was one of the few anchors that i had had that. Got me through the day. So you can imagine when i thought about theranos. I really anticipated that. This would be the first and last company that i was going to work for. This was finally my opportunity to contribute to society to solve the problems that i had seen in the world but i started to note some problems so i started off as an entry level associate and the lab and we would be sitting in a lab meeting reviewing data to confirm whether the technology worked or not. And someone would say to me. Well let's get rid of the outlier and see how that affects the accuracy rate. So what constitutes outlier here. Which one is the outlier in the answer. Is you have no. You don't know right. In deleting a data point is really violating one of the things that i found so beautiful about the scientific process which it really allows the data to reveal the truth to you and as tempting as it might be in certain scenarios to place your story on the data to confirm your own narrative when you do this has really bad future consequences so this to me was almost immediately a red flag in a kind of folded into the next experience and the next red flag that i started to see within the clinical laboratory so clinical laboratory is where you actively process patient samples and so before. I would run a patient sample. I would have a sample where i knew what the concentration was. And in this case it was point to for tps psa which is an indicator of whether someone has prostate cancer or is at risk of prostate cancer. Or not. but when i'd run it in the theranos device it would come out eight point nine and then i'd run it again and it come out five point one and i'd run it again. Had come out point five which is technically in range. But what do you do in this scenario. What is the accurate answer